Intelligence

Mayors of the #MeToo Movement

December 11, 2018

Reporter: Vested Staff

Mayors of #MeToo: Three female ex-Goldmanites, now employed by the NYC Mayor’s Office, responded to a recent Bloomberg article in which men shared their big #MeToo learning moment: avoid women at all costs. One male wealth advisor described hiring women as “an unknown risk,” while others suggested men avoid one-on-one meetings or business dinners with, or (heaven forbid) sitting next to a female colleague on a flight. But Alicia Glen, the deputy mayor for housing and economic development, and her former colleagues had some advice of their own for these men.

First, break bread with women. It’s no secret that business–be it closing on a deal, or sealing a promotion–happens outside the office, so it’s crucial women be part of these conversations. Secondly, leadership needs to be an integral part of both men and women’s job descriptions. Mentors and mentees of different genders can give and receive guidance from one another. And lastly: men should be just as eager to please and impress female leaders as they are male.

It isn’t exactly groundbreaking advice, but neither were the scaredy-frat revelations the men offered in the Bloomberg story. So… just how far have we come since the #MeToo movement? Will the new cry be #metoometoo?

Earlier this year, the Harvard Business Review took a deeper look into how the movement has affected women in finance, specifically. It’s not a good look. Sigh.

2019 Forecast: What will 2019 bring? It’s up for debate considering just how out-of-touch 2018 forecasts were, according to Barry Ritholtz in his Bloomberg column. Between Bitcoin-bonanza (RIP) and some not-so-spot-on political projections, the only safe bet he says is steering clear of predictions entirely.

Talk Data to Me: Speaking of predictions, many signs show that we’re due for an economic recession any day now: stocks are down 1.5% this year; household debt hit an all-time high; and hedge funds are struggling the most they have since the 2008 financial crisis.

But the Wall Street Journal’s Paul Hannon’s reporting tells a different story of what’s to come. Economists at UBS Securities studied 120 recessions in 40 countries over the last 40 years, searching for data about how economies behave prior to a recession, considering factors like consumer spending, home prices, bank lending, imports, and employment. Their contrarian prediction? No U.S. recession in sight. Fingers crossed.

Put ‘Em Up: Center-right publications are struggling to stay afloat in the Trump era. The Weekly Standard, a once-noted conservative magazine, has repeatedly criticized the President and, in turn, lost much of its funding.

“You have a lot of incentives not to be at war with the Trump administration,” said founder William Kristol in The Economist. “If you’re a Republican donor and maybe you don’t want to be ambassador to the Court of St James, but maybe your friend does, you’re not going to start a fight with Trump.”

Oh We Fancy, Huh: Thanks to all those who joined us at #ChezVested for champagne and caviar! Missed the party? Check out our recap on the blog.